Quick Breakdown
- CZ warns traders about hacked official accounts posting fake meme coin contract addresses.
- Recent hacks include BNB Chain, PancakeSwap, Drake, and Dior’s X accounts.
- BNB Chain’s meme coin market is booming, with launchpads like Four.Meme leading the charge.
CZ urges caution amid Memecoin craze
Former Binance CEO and founder, Changpeng “CZ” Zhao, has warned the crypto community to stay alert as meme coin scams resurface across major social media platforms. In an October 20 post on X, CZ highlighted how hackers have been hijacking verified accounts to share fake contract addresses of newly launched meme coins in a bid to defraud traders.
With the rise of meme coins, hackers are targeting social media accounts (as they usually have lower security measures) to post CAs.
Beware that official accounts do not endorse any specific memes.
— CZ 🔶 BNB (@cz_binance) October 20, 2025
His caution follows several high-profile hacks targeting both crypto and non-crypto accounts, which have been exploited to promote fraudulent meme tokens.
A string of high-profile hacks
One of the most recent cases involved the BNB Chain X account, which was compromised to promote a fake BNB-themed meme coin through a bogus airdrop. The attacker funneled users’ funds into the so-called “4” meme coin before performing a rug-pull worth $4,000. In a surprising twist, the BNB community retaliated by pumping the token’s price by over 500% as a mockery of the hacker.
Similarly, the Chinese PancakeSwap X account was hacked on October 8 to push another fraudulent meme coin called “Sir Pancake,” which still managed to reach $20 million in trading volume shortly after launch.
Outside crypto, celebrities and global brands have also been hit. Drake’s X account was hacked late last year to promote a fake token called ANITA, which spiked to $4.9 million in trading volume, while Dior’s official account was breached in February 2025 to advertise a fake DIOR coin on Pump.fun — gaining 138% in value and $1 million in volume within minutes.
BNB Memecoin boom surprises CZ
Despite the ongoing scams, the BNB Chain ecosystem is experiencing a notable meme coin resurgence, driven by launchpads like Four.Meme and PancakeSwap. Four.Meme even briefly overtook Pump.fun in daily revenue earlier this month.
Acknowledging the trend, CZ expressed surprise at the “BNB meme season”, noting that Solana had traditionally dominated the meme coin market.
Earlier this year, CZ had described the BNB meme coin ecosystem as “immature,” referencing how it struggled to manage the influx of dog-themed meme coins inspired by his pet, Broccoli.
If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
